Tesco (LON:TSCO) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Tesco PLC (LON:TSCO)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 460.33 and traded as high as GBX 476.10. Tesco shares last traded at GBX 472.20, with a volume of 18,353,063 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesco from GBX 500 to GBX 525 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. raised their target price on shares of Tesco from GBX 480 to GBX 500 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Shore Capital Group restated a “buy” rating and issued a GBX 525 price target on shares of Tesco in a research note on Friday, June 12th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 430 target price on shares of Tesco in a research report on Thursday, April 16th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 488.

Tesco Stock Performance

The stock’s fifty day moving average price is GBX 459.15 and its two-hundred day moving average price is GBX 460.33. The company has a debt-to-equity ratio of 131.55, a quick ratio of 0.60 and a current ratio of 0.59. The company has a market cap of £29.23 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.43 and a beta of 0.57.

Tesco (LON:TSCO) last announced its quarterly earnings data on Thursday, April 16th. The retailer reported GBX 29.50 earnings per share (EPS) for the quarter. Tesco had a net margin of 2.42% and a return on equity of 16.05%. The business had revenue of GBX 7,371 million for the quarter. As a group, equities analysts predict that Tesco PLC will post 27.374848 earnings per share for the current year.

About Tesco

Tesco was built to be a champion for customers, serving them every day with affordable, healthy and sustainable food. Our commitment to our customers extends beyond our stores, and into every community we serve – in the UK, Republic of Ireland, Slovakia, the Czech Republic and Hungary. We invest in communities to help them thrive, through supporting schools and children’s groups, food banks and other good causes.

In challenging times, our purpose has guided every part of the Group. Serving our customers, communities and planet a little better every day is what we do.